Why Do Retirees Avoid Spending? Interview With Professor Dan Silverman
Dan Silverman, professor of economics at the W.P. Carey School of Business at Arizona State University, is an authority on financial decision making; retirement healthcare; and annuitization. In this interview, Professor Silverman offers three reasons why two similarly situated people would have different financial outcomes. He offers a solution to the classic retirement-saving puzzle – the surprising phenomenon that retirees strongly avoid drawing down their wealth beyond what researchers would expect. His answer to this question also helps to resolve the so-called “annuity puzzle,” wherein consumers shun products that economic theory assumes they would embrace. Learn more about your ad choices. Visit megaphone.fm/adchoices